The controversial cryptocurrency entrepreneur continues to deny being on the run
Terra Co-Founder Do Kwon Might Be Hiding in Europe, According to South Korean prosecutor,
Prosecutors have gathered sufficient evidence to suggest that the company behind the failed blockchain was involved in market manipulation. They obtained text messages that were exchanged between Kwon and his staff at Terraform Labs.
In fact, an official in the prosecutor’s office said that Kwon was in charge of price manipulation. However, the entrepreneur’s representative has denied those allegations.
Kwon’s passport has been revoked by South Korea’s Ministry of Foreign Affairs as of this Friday.
At the same time, in a recent tweet, Kwon refused to hide. In fact, he says he will hold a meeting to refute the mounting allegations, but it appears to be another attempt at gaslighting.
South Korean authorities insist that Kwon is “obviously on the run.”
In mid-September, Kwon was slapped With arrest warrant. Shortly thereafter, Interpol reportedly issued a Red Notice (known as an international arrest request).
In turn, Terraform Labs accused South Korean prosecutors of overextending their authority. Kwon himself implied that the case could be politically motivated. The company claims that Luna, the failed cryptocurrency backed by Terraform Labs, is not covered by the country’s securities laws since it is not a security.
Terra, which used to be one of the biggest projects in crypto, floundered in May, leaving many investors in the dust.
